LANXESS decides to buy back shares

  • Share buy-back with a volume of up to 10% of outstanding shares respectively up to EUR 500 million
Cologne
The Management Board of LANXESS has decided on a share buy-back program. Based on the authorization granted by the Shareholders’ Meeting on May 23, 2019 own shares in a volume of up to EUR 500 million shall be acquired via the stock exchange in the next 24 months, but in accordance with the authorization no more than 10% of the share capital of LANXESS AG.
 
On the basis of the current share price (EUR 40.30 per share, status: March 9, 2020), LANXESS could buy back approximately 8.74 million own shares, or 10% of the share capital, for an aggregate consideration of approximately EUR 352 million. The acquired shares shall be redeemed.

The share buy-back will be split into two tranches of EUR 250 million each. The share buy-back of the first tranche is expected to start on March 12, 2020 and shall be completed within the next 12 months. On the time period for the second tranche of the buy-back program a decision will be made upon completion of the first tranche.  

“With the share buy-back we are demonstrating our confidence in the strategic direction of LANXESS and will create value for our shareholders”, said Matthias Zachert, Chief Executive Officer of LANXESS AG.
 

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